Gauge Theory, Gold, and Bitcoin | The Weinstein Series | Episode 1 (WiM079)

Eric Weinstein joins me for a multi-episode conversation covering mathematics, physics, history, politics, economics, and money. Be sure to check out NYDIG, one of the most important companies in Bitcoin: https://nydig.com/ GUEST Eric's twitter: https://twitter.com/EricRWeinstein Eric's YouTube: https://www.youtube.com/ericweinsteinphd Eric's Podcast: https://ericweinstein.org/ PODCAST Podcast Website: https://whatismoneypodcast.com/ Apple Podcast: https://podcasts.apple.com/us/podcast/the-what-is-money-show/id1541404400 Spotify: https://open.spotify.com/show/25LPvm8EewBGyfQQ1abIsE?si=wgVuY16XR0io4NLNo0A11A&nd=1 RSS Feed: https://feeds.simplecast.com/MLdpYXYI Transcript: OUTLINE 00:00:00 “What is Money?” Intro 00:00:08 Introduction to Gauge Theory 00:06:06 Wittgenstein’s Ruler, Invariance, and Co-Variance 00:08:36 General Relativity, Prices, and Inflation 00:10:58 Gauge Theory Says There is No “Universal Level” 00:13:27 Marginal Revolution Using the Wrong Differential Calculus? 00:16:48 Utility Theory: Ordinal vs. Cardinal 00:19:37 The St. Petersburg Paradox 00:23:06 Cardinal Utility Exhibits the Structure of a Principal Bundle 00:24:41 NYDIG 00:25:48 Economics as the Geometry of Markets 00:28:54 Competition is Critical for Scientific Progression 00:32:51 How Framing Changes What We See 00:37:26 Exploring Gold as a Gauge Theory 00:41:01 Transactional Anonymity as a Consequence of Gauge Theory 00:42:50 Conservation Laws and the Double-Spend Problem 00:44:42 Satoshi as the Originator of “Logical Physics” 00:46:07 The Big Problem of Bitcoin? SOCIAL Breedlove Twitter: https://twitter.com/Breedlove22 WiM? Twitter: https://twitter.com/WhatisMoneyShow LinkedIn: https://www.linkedin.com/in/breedlove22/ Instagram: https://www.instagram.com/breedlove_22/ TikTok: https://www.tiktok.com/@breedlove22?lang=en All My Current Work: https://linktr.ee/breedlove22​ WRITTEN WORK Medium: https://breedlove22.medium.com/ Substack: https://breedlove22.substack.com/ WAYS TO CONTRIBUTE Bitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7 Sats via Strike: https://strike.me/breedlove22 Sats via Tippin.me: https://tippin.me/@Breedlove22 Dollars via Paypal: https://www.paypal.com/paypalme/RBreedlove Dollars via Venmo: https://venmo.com/code?user_id=1784359925317632528 The "What is Money?" Show Patreon Page: https://www.patreon.com/user?u=32843101&fan_landing=true RECOMMENDED BUSINESSES Worldclass Bitcoin Financial Services: https://nydig.com/ Join Me At Bitcoin 2022 (10% off if paying with fiat, or discount code BREEDLOVE for Bitcoin): https://www.tixr.com/groups/bitcoinconference/events/bitcoin-2022-26217 Put your Bitcoin to work. Earn up to 6% interest back on Bitcoin with Tantra: https://bit.ly/3CFcOmg Automatic Recurring Bitcoin Buying: https://www.swanbitcoin.com/breedlove/ Buy Bitcoin in a Tax-Advantaged Account: https://www.daim.io/robert-breedlove/ Home Delivered Organic Grass-Fed Beef (Spend $159+ for 4 lbs. free): https://truorganicbeef.com/discount/BREEDLOVE22